Shares of Sandur Manganese & Iron Ores Ltd. surged 20%, hitting the upper circuit on Monday 17 Feb 2025 after the company reported a staggering 1416% year-on-year (YoY) increase in net profits for the third quarter of FY2024. The stock saw a strong rally as investors cheered the impressive financial performance and positive outlook for the company.
Key Financial Highlights (Q3 FY25 vs. Q2 FY25 & Q3 FY24):
- Revenue from Operations: ₹48,167 lakh in Q3 FY25, a significant rise from ₹26,025 lakh in Q2 FY25 and ₹15,302 lakh in Q3 FY24.
- Total Income: ₹49,867 lakh in Q3 FY25, up from ₹28,508 lakh in Q2 FY25 and ₹16,816 lakh in Q3 FY24.
- Total Expenses: ₹32,930 lakh in Q3 FY25, compared to ₹24,193 lakh in Q2 FY25 and ₹15,527 lakh in Q3 FY24.
- Profit Before Tax: ₹16,937 lakh in Q3 FY25, a sharp increase from ₹4,315 lakh in Q2 FY25 and ₹1,289 lakh in Q3 FY24.
- Net Profit: ₹12,675 lakh in Q3 FY25, a remarkable surge from ₹3,212 lakh in Q2 FY25 and ₹961 lakh in Q3 FY24.
- Earnings Per Share (EPS): ₹7.82 per share in Q3 FY25, significantly higher than ₹1.98 in Q2 FY25 and ₹0.59 in Q3 FY24.
The impressive growth in revenue and profitability highlights Sandur Manganese & Iron Ores Limited’s strong operational efficiency and strategic expansion efforts. The company has benefited from increasing demand for manganese and iron ores, coupled with effective cost management.
The company has also witnessed a positive impact from better pricing and improved production efficiency. A significant reduction in costs related to changes in inventories and steady employee benefit expenses contributed to overall profitability.
FIIs & DIIs Increase Stake:
Foreign Institutional Investors (FIIs) increased their stake from 0.99% in September 2024 to 1.06% in December 2024, while Domestic Institutional Investors (DIIs) raised their holdings from 1.46% to 1.49% during the same period. This rise in institutional ownership reflects strong confidence in the company’s growth trajectory.
Market Reaction
The impressive Q3 numbers led to a sharp spike in investor confidence, pushing Sandur Manganese shares to their 20% upper circuit limit on the stock exchanges. The trading volumes also witnessed a significant rise as buying interest surged among retail and institutional investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to conduct their research before making investment decisions.